Get Perfect Results with Premium CAMS Dumps Updated 512 Questions [Q237-Q261]

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ACAMS CAMS (Certified Anti-Money Laundering Specialists) certification exam is a globally recognized credential for professionals in the anti-money laundering (AML) field. Certified Anti-Money Laundering Specialists certification is awarded by the Association of Certified Anti-Money Laundering Specialists (ACAMS), a leading international organization focused on enhancing the knowledge and skills of AML professionals. The CAMS certification exam is designed to validate the expertise of AML professionals and demonstrate their commitment to staying current with industry best practices and regulatory requirements.

NEW QUESTION 237
An anti-money laundering specialist has been hired by an independently-owned community bank to implement an anti-money laundering compliance program. This bank has recently seen a dramatic increase in the number of international electronic fund transfers from its commercial clients. The first thing the anti-money laundering specialist should do is

file a suspicious transaction report on international customers receiving large electronic fund transfers.

conduct a risk assessment of the bank’s international electronic fund transfer activity.

develop a new account question naire to quantify the level of risk for new international accounts.

close all accounts which have had a dramatic increase in international electronic fund transfer activity.

NEW QUESTION 238
Your company is building custom models that integrate into microservices architecture on Azure Kubernetes Services (AKS).
The model is built by using Python and published to AKS.
You need to update the model and enable Azure Application Insights for the model.
What should you use?

the Azure CLI

MLNET Model Builder

the Azure Machine Learning SDK

the Azure portal

NEW QUESTION 239
What is an indicator of suspicious activity?

A customer who pay back a late loan all at once after collecting on a bad debt

A convenience store that brings in $20s and $10s and requests small bills and change

Large and frequent credit balances on a credit card resulting in request for refunds

An online retailer that uses a third-party payment processor to facilitate its transactions

NEW QUESTION 240
A suspicious transaction report filed on a car dealer structuring deposits initiates a criminal investigation. The dealer changes branches and begins placing transactions with a frontline employee to whom the dealer has given numerous gifts.
This employee handles all of the dealer’s structured deposits and does not report the suspicious activity internally.
The competent authority has advised the anti-money laundering specialist to avoid tipping off the employee until the investigation is finalized.
What action should the specialist take next?

Recommend the immediate termination of the employee.

Advise that the dealer’s accounts should be closed.

Consult with senior management and the legal advisor.

Inform the institution’s regulatory agency of the situation.

NEW QUESTION 241
What is an example of the integration stage of money laundering involving a bank or another deposit-taking institution?

Depositing illicit funds into an account set up for a front company

Directing third parties to exchange illicit cash for negotiable instruments

Wiring illicit funds from an account at one bank to an account at another bank

Using illicit funds that had previously been deposited to purchase a luxury vehicle

NEW QUESTION 242
Outgoing foreign transactions of similar amounts trigger a monitoring alert for a customer’s accounts. During the evaluation of the accounts, the bank discovers the wire transfers were very small amounts and occurred within the last 3 months following a long period of inactivity. The wire transfers appear to originate from legal sources. To assess the potential of terrorist financing, the institution must ensure the:

account holder presents proof the funds are legal.

beneficiaries of transfers are not on a terrorist watch list.

beneficiaries of transfers are not included on the Transparency International List.

account holder does not reside in a country included on the U.S. State Department State Sponsors of Terrorism List.

NEW QUESTION 243
Which three procedures should a compliance officer looking to revise an institution’s CTF efforts include in accordance with the Wolfsberg Group’s Statement on the Suppression of the Financing of Terrorism?

Consulting applicable lists and taking appropriate actions to determine if customers appear on such lists

Reporting matches from lists of known or suspected terrorists to relevant authorities

Maintaining customer information to facilitate timely retrieval of such information

Reviewing only original identification documents when verifying customers

NEW QUESTION 244
Which is a key goal of EU Directives on money laundering?

Establish a consistent regulatory environment across the EU to prevent money laundering

Address control of payments in EU countries to reduce money laundering

Allow member states to discuss the draft legislation with the cooperation of the EU Financial Intelligence Units (FIUs)

Build a network of financial institutions (FIs) that work together to prevent money laundering across the EU

NEW QUESTION 245
A non-U.S. bank asks its U.S. correspondent whether there is risk of having funds seized in their correspondent account if a customer is involved in a predicate offense.The correspondent bank’s reply should be,

“No, only U.S. accounts for U.S. citizens can be seized and forfeited by the competent authority.”

“No, only correspondent accounts of U.S. banks can be seized and forfeited by government agencies.”

“Yes, if it is suspected that money laundering has occurred solely in the U.S.”

“Yes, also if the customer’s account is used in a country other than the U.S. by suspected money launderers.”

NEW QUESTION 246
A financial institution has expanded its scope of services so that it is attracting the business of politically exposed persons (PEPs) who had previously never been part of the customer base.
Which two courses of action should the compliance officer include in the institution’s procedures for considering PEPs as customers? (Choose two.)

Conduct enhanced ongoing monitoring of the business relationship

Expedite due diligence when a PEP is pre-approved by a member of senior management

Obtain appropriate senior management approval for establishing a business relationship with a PEP from a high risk country

Take adequate measures to establish the source of wealth and source of funds which are involved in the business relationship or occasional transaction

NEW QUESTION 247
An anti-money laundering officer for a financial institution has been conducting a monthly self assessment.
The officer reviews the accounts increase in compliance with a long standing know your Customer policy. The self- assessment for the latest month shows a significant increase in compliance deficiencies for the first time in more than a year. What is the nest course of action for the anti-money laundering officer to take?

Inform the Board of Directors promptly of the Know Your Customer policy trend over the last six months.

Determine if there is a readily identifiable cause for the deficiencies

Implement a revision to the account-opening training program

Revise the policy to simplify Know Your Customer compliance before the report is issued

NEW QUESTION 248
A law enforcement official calls a bank inquiring about a customer who is currently under investigation. The law enforcement official requests information about the customer.
How should the bank respond?

Confirm the customer is either a current or former customer

Inform the board of directors before responding to the request

Provide the requested information to help aid in the investigation

Request a formal letter be submitted to verify the validity of the request

NEW QUESTION 249
A Money Laundering Reporting Officer’s (MLRO) lack of action led to deficiencies in the bank’s AML program and a civil monetary penalty being levied against the MLRO. Why was this direct action taken against the MLRO?

The MLRO is the only individual that can be held responsible for AML program deficiencies.

MLROs can be held to an individual accountability standard and face potential penalties for contributing to AML program deficiencies.

The MLRO agreed to the civil penalty so that the bank would not be found liable for the AML program deficiencies.

Action was brought against the MLRO because banks cannot be found liable for AML program deficiencies.

NEW QUESTION 250
You need to evaluate trends in fuel prices during a period of 10 years. The solution must identify unusual fluctuations in prices and produce visual representations.
Which Azure Cognitive Services API should you use?

Anomaly Detector

Computer Vision

Text Analytics

Bing Autosuggest

NEW QUESTION 251
When providing reporting of STRs to the board, which of the following should be provided?

A numerical summary of all the STRs

A numerical summary of all the STRs and a summary of key STRs, including PEPs, key employees

A summary of all key STRs, including PEPs and key employees

All the STRs filed with the national FIU

NEW QUESTION 252
A United States (U.S.) bank was recently alerted by law enforcement of an increase in sale of large denomination U.S. bank notes to casas de cambio. They suspect that a Mexican syndicate is operating a money laundering scheme in the bank’s jurisdiction.
Which two steps should be taken to trace funds through the bank to assist law enforcement in their investigation? (Choose two.)

Identify the money laundering scheme and submit a suspicious transaction report

Identify if there is a decrease in the sale of large denomination U.S. bank notes to casas de cambio by the bank

Identify deposits by casas de cambio that include third-party items including sequentially numbered monetary instruments

Identify multiple wire transfers initiated by casas de cambio to jurisdictions outside of Mexico that bear no apparent business relationship with that casa de cambio

NEW QUESTION 253
In many jurisdictions, financial institutions are prohibited from hiring a person who has been convicted of what type of offense?

Kidnapping

Offenses involving dishonesty

Driving while under the influence

Protests of government action

NEW QUESTION 254
In 2004, Consolidated KYC Risk Management was issued by the Basel Committee on Banking Supervision (BCBS). What is a key message in this document?

KYC Risk Management required a yearly consolidation effort

KYC Risk Management means as established decentralized process for promulgating policies andprocedures

Policies and procedures should be designed not merely to comply strictly with all relevant lawsand regulations

Consolidated KYC risk management for a group is critical and trumps jurisdictional rules hat limitinformation sharing

NEW QUESTION 255
Who has the day-to-day responsibility of communicating and reinforcing the established anti-money laundering compliance culture and program?

Business lines

Senior management

Board of directors

Compliance officer

NEW QUESTION 256
Which three criteria does a shell bank meet according to the Wolfsberg Principles on Correspondent Banking? Choose 3 answers.

It does not conduct business at a fixed address in a jurisdiction in which it is authorized to conduct business.

It does not employ one or more individuals at its fixed address where it is authorized to conduct business or maintain operating records at that address

It is not subject to AML laws that require it to implement an AML program

It is not subject to inspection by the banking authority that licensed it to conduct banking activities

NEW QUESTION 257
Which two steps should a financial institution take when it receives a law enforcement request to keep an account open that may be associated with suspicious or criminal activity? (Choose two.)

File a suspicious transaction report on the account owner(s)

Maintain account records for at least five years after the request expires

Ask for a written request from the law enforcement agency that defines the duration

Stop filing suspicious transaction reports because law enforcement will be monitoring the account

NEW QUESTION 258
What is an example of the integration stage of money laundering involving a bank or another deposit-taking institution?

Depositing illicit funds into an account set up for a front company

Directing third parties to exchange illicit cash for negotiable instruments

Wiring illicit funds from an account at one bank to an account at another bank

Using illicit funds that had previously been deposited to purchase a luxury vehicle

NEW QUESTION 259
A remittance company received a money order from a senior political figure m the Philippines to transfer a large sum of money to a charity group in the Philippines. A review of the charity group revealed a director having dose ties with a known terrorist group primarily financed through kidnapping and extortion. What is a key risk indicator associated with terrorism financing?

The sender is a Political Exposed Person (PEP) and should be subject to enhanced due diligence

A large sum sent by money order to a charity

There is no risk relating of terrorism financing when the charity group is operating legitimately in that country

There is a link between the charity group and a known terrorist group

NEW QUESTION 260
In the summer, an institution identifies anti-money laundering concerns regarding a customer’s account activity.
The customer, an ice cream, has deposited a lot of checks drawn on banks in foreign countries, sent large number of high dollar international wires to different countries, made cash deposits of a few hundred dollars every few days and written multiple checks for a few hundred dollars to the same dozen payees every two weeks.
Which two transaction types warrant investigation? (Choose two.)

Regular cash deposits

The wires to foreign countries

Repeated checks to the same payees

Checks drawn on banks in foreign countries

NEW QUESTION 261
A businessman requests a European private bank to open a numbered or alternate name account. According to the Basel Committee on Banking Supervision principles, which of the following is the most important question the banker should ask?

Who will control the account?

Who will inherit the proceeds in the event of the businessman’s death?

How much money will be deposited into the account?

What account-opening date should I record’!’

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Get Perfect Results with Premium CAMS Dumps Updated 512 Questions [Q237-Q261]

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